Home / Companies / News /  Quess Corp divests stake in Simpliance for Rs120 crore

HR solutions company  Quess Corp Ltd, will divest its stake in the digital risk and compliance services company, Simpliance Technologies Private Limited (Simpliance) to Aparajitha Corporate Services (Aparajitha) an HR compliance services company and its affiliates.

The deal is valued at an enterprise value of 120 crores, on a cash and debt free basis, subject to closing adjustments and fulfilment of conditions set out in the transaction document.

“In line with the Corporate structure simplification process and rationalization of business lines, we have divested our stake in Simpliance Technologies Private Limited," said Guruprasad Srinivasan, Executive Director and Group CEO, Quess Corp.

The statement on Thursday added that for Quess, a strategic investment of Rs.4.5 crore for its total 53% shareholding made between October 2016 and August 2018 has yielded an enterprise value of Rs.120 crore.

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